Ovid Therapeutics Inc. (NASDAQ:OVID) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4.70.

Several equities research analysts recently issued reports on the stock. BTIG Research reduced their price objective on shares of Ovid Therapeutics from $11.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, June 18th. B. Riley decreased their price target on Ovid Therapeutics from $9.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, June 18th. HC Wainwright reissued a "buy" rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research note on Monday. Citigroup decreased their target price on Ovid Therapeutics from $3.50 to $1.20 and set a "neutral" rating for the company in a research report on Tuesday, June 18th. Finally, Oppenheimer downgraded Ovid Therapeutics from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 18th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. DCF Advisers LLC increased its position in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company's stock worth $32,000 after acquiring an additional 22,020 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Ovid Therapeutics by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company's stock worth $41,000 after purchasing an additional 5,401 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Ovid Therapeutics by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company's stock valued at $54,000 after buying an additional 3,145 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company's stock valued at $98,000 after buying an additional 13,756 shares during the last quarter. Finally, Vestal Point Capital LP bought a new stake in shares of Ovid Therapeutics in the fourth quarter valued at about $275,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Ovid Therapeutics Stock Up 1.8 %

Shares of OVID traded up $0.02 during midday trading on Friday, reaching $1.15. 69,040 shares of the stock were exchanged, compared to its average volume of 423,994. The company has a market cap of $81.62 million, a price-to-earnings ratio of -1.58 and a beta of 0.42. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.16. Ovid Therapeutics has a 12-month low of $0.68 and a 12-month high of $4.10. The firm has a 50 day simple moving average of $1.10 and a 200-day simple moving average of $1.94.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.34. The firm had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.14 million. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. Research analysts forecast that Ovid Therapeutics will post -0.49 EPS for the current year.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.